ArtCollecters

Yvon Lambert Gallery Fundraiser Favors the Lucky

Filed under: Art, Charity

Art may not be selling as it did a year and a half ago, but hopefully even strapped collectors will open their wallets for a good cause. The Yvon Lambert Gallery in Paris has pulled together work from 1,000 artists to be sold at a fundraiser to combat the spread of AIDS. Among the artists participating are heavy hitters, such as Olafur Eliasson, Jonathan Monk, Christian Marday, Rafael Lozano-Hammer, Sophie Calle and Jo Baer.

But, there are two aspects of the event that make it unique.

First, prices will be standardized. Every piece offered in the two-day sale will be set at €100 (except sculpture, which will be €300). Also, collectors won't know whose work they'll receive until they pay up. The lucky could wind up with amazing pieces worth far more than they paid ... extending the good feeling that comes with supporting a worthy charity.

[Photo of Olafur Eliasson's New York waterfall by epicharmus via Flickr]

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Tags: art, art collecters, art collecting, art gallery, ArtCollecters, ArtCollecting, ArtGallery, artist, artwork, charity, christian marclay, ChristianMarclay, collectors, fundraiser, fundraising, olafur eliasson, OlafurEliasson, sculpture

Buyer Beware: Fakes Flood Art Market

by Tom Johansmeyer (RSS feed) —

Filed under: Art

Art crime is running rampant around the world. More of the modern Russian art on the market is fake, according to an ArtInfo report, and authenticity is a problem in Vietnam, as well. There are lawsuits here in the United States, as well. So, ArtInfo asks the fair question: why are the wealthy, usually financially savvy so vulnerable when it comes to art?

Excitement is certainly part of the problem. The high prices, limited supply and egos involved create an emotionally charged environment. As hedge fund spouse Danielle Ganek observes in her (rather painful) novel, Lulu Meets God and Doubts Him, "Art is the new cocaine." Yep, and that leads to some hasty decisions.

Experience usually makes a difference in protecting collectors from fakes. New collectors rush into the bidding process, not always understanding the quality or history of what they're buying, though there's also plenty of room for seasoned buyers to make mistakes. For the newcomers, the risks include wanting to gain access to what is seen as an exclusive club, social pressures to abide by this subculture's conventions and an unwillingness to ask questions ... mostly because of those social pressures.

Yet, for all the regrets that top collectors have related about impulse buying, there are others who lament not having been faster on the paddle.

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Tags: art, art collecters, art collecting, art collection, art collector, art market, ArtCollecters, ArtCollecting, ArtCollection, ArtCollector, ArtMarket, artwork, counterfeit, counterfeit goods, CounterfeitGoods, counterfeiting, counterfeits, russian art, RussianArt

Art Market Index Highlights Power of Positive Thinking

by Tom Johansmeyer (RSS feed) —

Filed under: Art

Art collectors are still taking a beating, but at least they're letting themselves hope. ArtPrice's Art Market Confidence Index (AMCI) has gained a little bit of ground this year, after enduring a dismal 2008. Prices at auction haven't followed collector optimism yet, but wishing is a prerequisite to opening your wallet.

The AMCI doesn't reflect pricing so much as art collector confidence in the market, and an upswing is evident. Last year, the AMCI plunged 30 percent, and on January 31, 2009, it revisited the low it reached after a series of disappointing November 2008 auctions. The situation remained grim in February, at which point the AMCI seemed to follow the broader financial markets, reaching a low point in early March and subsequently looking for a recovery. We haven't seen a turnaround yet, but the worst appears to be behind us.

From April to July, the AMCI is certainly pointed higher, but the sentiment is academic until collectors pry open their checkbooks and take action. Right now the money isn't flowing, and that's what has to change for the market to rebound.

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Tags: art, art auction, art auctions, art collecters, art collecting, art collection, art collector, art market, ArtAuction, ArtAuctions, ArtCollecters, ArtCollecting, ArtCollection, ArtCollector, ArtMarket, auction, auctions